Questions: (a) Choose the correct relative frequency histogram for the data using eight classes below (b) If you put 7550 in the ATM each day, what percent of the days in a month should you expect to run out of cash? % (Round to the nearest tenth as needed)

(a) Choose the correct relative frequency histogram for the data using eight classes below

(b) If you put 7550 in the ATM each day, what percent of the days in a month should you expect to run out of cash? % (Round to the nearest tenth as needed)

Transcript text: (a) Choose the correct relative frequency histogram for the data using eight classes below (b) If you put $7550 in the ATM each day, what percent of the days in a month should you expect to run out of cash? $\square$ % (Round to the nearest tenth as needed)

Solution

Solution Steps

Step 1: Identify the Correct Histogram

The problem asks to choose the correct relative frequency histogram for the data using eight classes.
By comparing the given histograms, we see that option C is already marked as correct.

Step 2: Determine the Daily Cash Requirement

The problem states that $7550 is put in the ATM each day.
We need to determine what percent of the days in a month this amount will be insufficient.

Step 3: Calculate the Percentage of Days Running Out of Cash

The histogram in option C shows the distribution of daily withdrawals.
To find the percentage of days where withdrawals exceed $7550, we need to look at the relative frequency of days with withdrawals greater than $7550.
From the histogram, the relative frequency of days with withdrawals greater than $7550 is approximately 0.75.